Sri Lanka ranks 5th among the 10 countries with highest food price inflation - World Bank

Tags: International News

Sri Lanka ranks 5th among the 10 countries with the highest food price inflation, according to the latest World Bank assessment.


  • According to the World Bank assessment, Lebanon, Zimbabwe, Venezuela and Turkey ranked first four countries, while Iran, Argentina, Suriname, Ethiopia and Moldova ranked behind Sri Lanka.
  • The World Bank said record high food prices have triggered a global crisis that drives millions of people to extreme poverty, hunger and malnutrition.

  • The Ukraine war, supply chain disruptions, and the COVID-19 pandemic have pushed food prices to an all-time high.

  • Rising food prices have a greater impact on people in low- and middle-income countries.

  • These countries spend a larger share of their income on food than people in high-income countries.

Domestic food price inflation at high worldwide :

  • According to the data, almost all low and middle income countries have high inflation between April and July 2022.

  • The World Bank says countries should lift trade restrictions or export bans on fertilizers.

  • The use of fertilizers should be made more efficient by giving proper incentives to the farmers.

  • Investing in innovation to develop best practices and new technologies can help increase production per kilogram of fertilizer.


Top 10 Countries hit hardest by Food Inflation :

  1. Lebanon

  2. Zimbabwe

  3. Venezuela

  4. Turkiye

  5. Sri Lanka

  6. Iran 

  7. Argentina

  8. Suriname

  9. Ethiopia

  10. Moldova

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